As part of integration process, customers of Oceanic Bank International can now access Ecobank’s Rapid Transfer product that provides a fast, convenient and reliable way to transfer money across Africa and within Nigeria.

Rapid Transfer is an instant money transfer product offered at all branches of Ecobank in 29 African countries and available locally at all Ecobank Nigeria and Oceanic Bank branches.

The Managing Director of Oceanic Bank, John Aboh who made this disclosure in Lagos said following the successful acquisition of the bank by Ecobank Transnational Incorporated (ETI) and the planned integration of services of both institutions,” Rapid Transfer was now available in all Oceanic Bank branches, the same way it was accessible in all Ecobank Nigeria branches”.

He encouraged Nigerian businessmen, parents, students, faith-based organisations and others who are engaged in cross border transfers of funds to use the product, explaining that such transfers could be made in the form of Cash to Cash; Cash to Account; Account to Cash; Account to Account; and Cash pull.

”As we move quickly to integrate operations of both banks, many more new services will be available to our customers, such as using ATMs without charges at both banks,” he said.

The Rapid Transfer is an instant money transfer product owned by Ecobank Group.  It provides a fast, convenient and reliable way to transfer money across Africa.

Rapid Transfer payments can be made to and from all branches of Ecobank in countries throughout Africa.  Funds are available within five minutes and paid in the local currencies of the countries involved.  The service is available to both customers and non-customers in all countries, except where remittance laws differ.

Apart from eliminating the risk of carrying cash across borders, there is no need for users of this product to source for foreign currencies before transfers are made within the enlarged Ecobank network in Africa.